​​Catchain 2.0 Goes Live

Find out our latest reports, listed below:‍

• Block Scholes x Panoptic: Bridging The Onchain Convexity Gap
• Volatility Report: February 2026
• 2026 – the year of RWA perps?
• Bybit x Block Scholes: “2026: It's Different This Time

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Market Snapshot: Overnight Moves

Daily Updates:

• Yesterday’s US releases included weekly jobless claims and February Core PCE data.
• Initial jobless claims rose to 219K in the week ended April 4 from 203K previously, while February Core PCE held at 3.0% YoY and 0.4% MoM.

• The S&P 500 has gained 8% since March 31, marking its longest streak since October 2025, with the US equity market adding roughly $4.5T in market capitalisation over that period.
• US equities extended their rebound into the close, with the S&P 500 rising 0.6% to 6,824.66, the Dow up 0.6% to 48,185.80, and the Nasdaq gaining 0.8% to 22,822.42.
• Gold and silver are both trading higher today.
• Gold is trading at $4,752.81/oz, up 0.44%, after moving in a $4,724.75-$4,801.61 range.
• Silver is at $75.43/oz, up 2.00%, after trading between $73.64 and $76.63 early in the morning.

• BTC and ETH implied vol levels have fallen hard over the last 24 hours, falling to 45.1% and  66.3% respectively.
• However, the move is bigger over a longer lookback – BTC IV is down about 13.0% from a week ago, and ETH about 10.3%. Both levels are now near multi-month lows. 
• The last time BTC IV was this low was around 31 Jan 2026 at 45.1%, and ETH last traded this low around 31 Jan 2026 at 64.5%.

• ,The move lower in implied vol is largely due to lower realised volatility which has fallen to 38.9% for BTC and 52.8% for ETH.

• The Japanese government approved a bill to amend the Financial Instruments and Exchange Act, classifying cryptocurrencies as financial products and banning insider trading based on non-public information.
• The reform shifts crypto regulation from a payment-based framework to an investment-focused one, requiring issuers to disclose information annually and renaming exchanges as crypto asset trading businesses.
• Penalties will be strengthened to enhance investor protection, with harsher prison terms and higher fines for unregistered operators, and the law could take effect as early as fiscal year 2027.

• TON, The Open Network blockchain linked to Telegram, announced on its official website yesterday that its Catchain 2.0 upgrade is now live on mainnet, bringing sub-second finality to the network.
• Key changes include block times of around 400 milliseconds, transaction confirmation in roughly one second, and a new streaming layer designed to push updates to apps almost instantly.
• TON said the upgrade should improve the responsiveness of payments, trading and Telegram Mini Apps, while also increasing validator rewards and raising annual inflation as staking incentives adjust to the faster block cadence.

• Bitmine Immersion Technologies has uplisted its stock from the NYSE American to the New York Stock Exchange, with trading on the NYSE beginning on April 9, 2026 under the ticker BMNR.
• The company also announced expansion of its share repurchase program from $1.0B to $4.0B, with buybacks to be executed in the open market under existing program terms.

• The number of staked Ethereum tokens continues to reach new all time highs, now reaching 38,847,025 ETH, which marks approximately 32.2% of the estimated 120.69M ETH supply.

This Week’s Calendar:

Charts of the Day: